i-City: Driven by an effective public-private partnership
Selangor has become a liveable smart state as a result of the state government's foresight in creating the Smart Selangor Vision and embracing digitalisation.
At its foundation, Smart Selangor is a state programme to empower its citizens, businesses, and government by maximising digital technology to achieve the goals of the Smart State.
Supporting this initiative is i-City, Malaysia No 1 Technology City located in the capital city of Selangor.
As the pandemic drove digitisation across the globe, i-City has stayed dedicated to creating a digital environment, putting it at the forefront of technology while luring more investors and home buyers.
It all began when i-City and the Selangor State government formed a public-private partnership (PPP) in the early 2000s.
In this first-of-its-kind PPP, i-City would construct and finance the development independently, and the state government would gain from foreign direct investments that the development would bring to Shah Alam.
The timing was ideal since i-City was aiming to develop a Multimedia Super Corridor (MSC) Cybercentre at the same time as Selangor was attempting to establish a creative digital hub in Shah Alam.
i-City presented its vision and development concept to the Sultan of Selangor, Sultan Sharafuddin Idris Shah. The Ruler approved of i-City as an International Zone where cosmopolitan family lifestyle activities such as cinemas, family-oriented leisure, and entertainment activities were permitted.
A tripartite Management and Development Agreement (MDA) between the Selangor State government, Shah Alam City Council (MBSA), and i-City was strengthened as a result of a shift in the state administration in 2008.
The MDA increased trust in the global community.
Today, international companies like Hilton Worldwide, Thailand's Central Pattana, and Best Western International call i-City home.
Maybank and Prudential are some of the prominent tenants in Mercu Maybank, a Grade-A GBI-certified smart office tower in i-City Finance Avenue.
Together, these national and international brands have improved Shah Alam's reputation.
Mercu Maybank, DoubleTree by Hilton, BeCentral serviced residences, (which is under construction and is open for sale), premium retail and office space, and an international convention centre (ready by the end of 2023) are all located in the i-City Finance Avenue, which is a great position in i-City.
It is clear from the presence of international and multinational businesses in i-City Finance Avenue that the area was planned to support high-value-added industries such as fintech.
To carry on with the Sultan of Selangor's vision of i-City as an International Zone, Tengku Datuk Seri Ahmad Shah Ibni Almarhum Sultan Salahuddin Abdul Aziz Shah was recently appointed chairman of i-City Selangor.
The goal is to maximise i-City's ability to draw more foreign investors to Selangor and bolster the state's economic development.
Selangor is regarded as a Golden State with the biggest economic contribution to the nation in terms of GDP in 2021, amounting to around 25 per cent.
In the meantime, the Selangor Structure Plan 2035 identifies i-City as a sustainable information and communications technology (ICT) growth location.
At home or at work, members of the i-City community can take advantage of top-notch amenities supported by technology.
The economic and social activities of the neighbourhood where people live, work, and visit are supported by i-City's on-site Tier-3 certified data centre, Super AI and dual-fibre network connectivity, artificial intelligence features, and smart security.
Additionally, services like self-driving cars, super AI network connectivity, and 5G connectivity will enhance the development as a whole.
25,000 people are anticipated to live in this RM10 billion i-City development, together with 30,000 knowledge-based workers.
Source: NST.com.my